Hello Smart Option Sellers! As I mentioned in yesterday's alert, Bristol Myers (BMY) was releasing earnings this morning before the open. Results were mixed and a little lower than expectations, so the stock is selling off in the pre-market. With BMY being such a high quality blue-chip pharmaceutical, it would be ludicrous for us not to take a position in this company. With the big drop in the price of the stock last week and earnings out of the way, I feel confident we will be getting in after most of the selling and damage has been done. We love when quality stocks drop big, as it allows us to get in at better prices. If you agree, here's what you can choose to do: Bristol Myers Squibb (BMY) Sell (sell-to-open) the BMY June 2017 $38 put options for a limit sell price in the range of $.25 to $.35 per contract, GTC, as an opening transaction (sell-to-open). Many of you may remember our trading instructions from Instant Money Trader. We are going to sell these put options as our trade. We are not buying them. "Sell-to-open" is the correct order for this transaction. And "GTC" means "good-til-cancelled. You will also use a "limit" order for this trade as well. This means you will only sell it at the price you choose. Do not use a "market" order. Currently, these put options have a market of $.29 bid/$.32 offer, so we will be able to sell them within the range I am giving you. Right off the bat, you should be able to sell these contracts for at least $.$.29 or 30 per, as that is the prevailing market. Once those are sold off, the bid price will most likely move lower, but do not sell them for anything below $.25 per contract. Get those orders in now and let us know how you do. You can reach us here: That's all for today. Regards, Lee Let's Grab That Cash!
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